Self-employed individuals, such as dentists, can consider purchasing income protection insurance to safeguard against illness or injury that may prevent them from working. The affordability of the premiums is an important factor. According to Karen O'Flaherty from Royal London Ireland, self-employed individuals may qualify for tax relief on these insurance costs, making it a more financially manageable option. This relief can help reduce the overall expense related to maintaining adequate income protection coverage.
As a self-employed individual, you may be eligible for tax relief on your income protection premiums, according to Karen O'Flaherty, senior proposition executive with Royal London Ireland.
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